CB goes for only $ 69 m SLDBs

The Central Bank has opted to go for a lower value of Sri Lanka Development Bonds (SLDBs) at the latest auction. 

The SLDB auction was for $ 75 million of three years three months, four years and five years tenor with a floating rate arrangement and a fixed rate to be determined through competitive bidding. However, the Central Bank accepted only $ 69 million worth of bids out of the $ 179 million received. 

It accepted $ 42.087 million worth of bids out of the $ 69.58 million received for five year floating at a weighted average margin (bps) over a six-month LIBOR of 407.23 and $ 27 million out of $ 31.51 million bids received for four year floating at a weighted average margin of 381.67.  It also accepted $ 0.2 million bids received for five year fixed at a weighted average fixed rate (bps) of 590. 

There were $ 78.07 million worth of bids for three years three months SLDBs but the Central Bank did not opt for those.